Registration number:
Picture Property Developments LLP
for the period from 1 August 2022 to 31 March 2023
Picture Property Developments LLP
Contents
Limited liability partnership information |
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Abridged Financial Statements |
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Abridged Balance Sheet |
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Notes to the Abridged Financial Statements |
Picture Property Developments LLP
Limited liability partnership information
Designated members |
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Members |
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Registered office |
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Accountants |
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Picture Property Developments LLP
(Registration number: OC392051)
Abridged Balance Sheet as at 31 March 2023
Note |
31 March 2023 |
31 July 2022 |
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Fixed assets |
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Investments |
( |
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Current assets |
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Debtors |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
( |
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Accruals and deferred income |
( |
( |
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Net liabilities attributable to members |
( |
- |
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Represented by: |
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Members’ other interests |
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Other reserves |
( |
- |
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(840) |
- |
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Total members' interests |
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Loans and other debts due to members |
(1,213) |
(1,213) |
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Equity |
( |
- |
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(2,053) |
(1,213) |
For the year ending 31 March 2023 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied to limited liability partnerships, relating to small entities.
These financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.
The members acknowledge their responsibilities for complying with the requirements of the Act, as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 with respect to accounting records and the preparation of accounts.
All of the limited liability partnership's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006, as applied to limited liability partnerships.
Picture Property Developments LLP
(Registration number: OC392051)
Abridged Balance Sheet as at 31 March 2023 (continued)
The financial statements of Picture Property Developments LLP (registered number OC392051) were approved by the
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Picture Property Developments LLP
Notes to the Abridged Financial Statements for the Period from 1 August 2022 to 31 March 2023
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
General information and basis of accounting
The limited liability partnership is incorporated in under the Limited Liability Partnership Act 2000. The address of the registered office is given on the limited liability partnership information page. The nature of the limited liability partnership’s operations and its principal activities are given in the members’ report.
These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The functional currency of Picture Property Developments LLP is considered to be pounds sterling because that is the currency of the primary economic environment in which the limited liability partnership operates. Foreign operations are included in accordance with the policies set out below.
Exemption from preparing group accounts
Exemption from preparing group accounts
Particulars of employees |
The average number of persons employed by the limited liability partnership during the period was
Picture Property Developments LLP
Notes to the Abridged Financial Statements for the Period from 1 August 2022 to 31 March 2023 (continued)
Investments held as fixed assets |
Total |
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Cost |
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Additions |
( |
At 31 March 2023 |
( |
Provision for impairment |
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At 1 August 2022 |
( |
At 31 March 2023 |
( |
Net book value |
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At 31 March 2023 |
( |
At 31 July 2022 |
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Control |
The ultimate controlling party is the same as the controlling party.